President Trump Says Iran Operation Will Last Several Weeks or Longer

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President Trump says the US operation in Iran could last four to five weeks or even longer. Plus, the threat to the Strait of Hormuz sends oil prices higher.

Jinjoo Lee (0:43)

Iran might not be able to physically close off the entire Strait, but all they really have to do is make it too risky for vessels to pass.

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And a contentious primary election in Texas tomorrow could offer clues for the midterms. It's Monday, March 2nd. I'm Alex Ossola for the Wall Street Journal. This is the PM edition of What's News, the top headlines and business stories that move the world today.

The US is sending more forces to the Middle East to support its operation in Iran. In remarks at the White House today, President Trump outlined four goals for the Iran operation. He says it's aimed at destroying Iran's missile capabilities as well as its Navy. He also says it's to prevent the country from obtaining a nuclear weapon and will stop Iran from arming, funding, and directing terrorist groups outside its borders. Trump said strikes against Iran could last several weeks.

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Whatever the time is, it's okay. Whatever it takes, we will always, and we have right from the beginning, we projected four to five weeks. But we have capability to go far longer than that.

Alex Ossola (1:57)

The toll for the US is rising. Six US troops have been killed with several other seriously wounded. Trump has warned that more American casualties are likely. Three US jet fighters were mistakenly shot down over Kuwait, but the six crew members safely ejected. In Israel, at least nine people were killed after an Iranian strike and several people in the United Arab Emirates. In Iran, the Iranian Red Crescent says US and Israeli strikes have killed more than 500 Iranians. Many of the country's top leaders have died. Iran's ambassador to the United Nations said today that the US and Israel have bombed hospitals, Red Crescent facilities, residential buildings and schools. And there were more than two dozen deaths in Lebanon from Israeli strikes after the Hezbollah militia attacked Israel.

Across the Gulf, some commercial flights resumed today. They're in high demand as Western expats try to leave the region. Back in the US, Americans are figuring out what they think about the operation. Aaron Zitner is a reporter out of Washington and says Trump's base is split on the conflict.

Aaron Zitner (2:57)

The loyalty of Donald Trump's supporters to him personally is at this point, we could even say legendary. He just has a firm grip on his base. But also we're starting to see some very prominent voices saying, they're opposed. Most famously now, Tucker Carlson has said this is disgusting and evil. And what do the MAGA supporters do? Do they hold on to the part of the Donald Trump message that is no more foreign intervention? Or do they say, you know, he said for a long time that Iran can't have nukes. And what I'm finding is that there's a large number of MAGA people who are kind of in a negative posture toward this, but not in opposition. They're skeptical, but they're not breaking away. I'll say the thing I heard today is about the use of ground troops. Both President Trump and Pete Hegseth in various venues today would not rule out use of ground troops. And that's a kind of a red line for some people.

Alex Ossola (4:08)

European and Asian stocks largely sold off, and investors sought safety in the dollar and gold. But US indexes came back from steep early losses to end nearly flat. The Dow ended down 0.1%, while the S&P was up less than 0.1%, and the NASDAQ less than half a percent. Shares of oil, shipping and defense companies rallied. Oil prices also jumped after Iran paralyzed tanker traffic through the Strait of Hormuz and attacked energy infrastructure in the Gulf. Brent Crude, the global benchmark, rose almost 7%. And European gas prices surged after Qatar, one of the biggest exporters of liquefied natural gas, stopped production. At the pump, truckers might be in for some pain. Diesel futures rose 12% in New York to above $2.90 a gallon, the biggest one-day gain since early 2022